HENDERSON, Nev., May 10, 2011 (GLOBE NEWSWIRE) -- Blue Earth, Inc. (OTCBB:BBLU) is pleased to announce that its subsidiary, Castrovilla Inc. ("CI") is expanding its energy efficiency retrofit model into Oregon, Washington, Idaho, Nevada, Utah, Arizona and Southern California. The business expansion will use the Blue Earth Energy Management Services ("BEEMS") trade name as we build the Blue Earth brand as a premier company in the multi-billion dollar energy efficiency services sector. BEEM is hiring additional personnel to provide energy efficiency retrofit services under the leadership of Mr. John Pink, President of CI.
"This expansion of our business model has been a long term goal, that can now be realized due in part to our iPad based field energy audit software, scheduled for completion in July," stated John Pink. "The software is expected to significantly improve the speed and accuracy of the energy audit/sales cycle by our sales force and it will enable us to train new employees quickly and effectively. Computer based versions of the software will be used in the interim as staffing is ramped up. We are excited at the opportunity to realize one of our long term goals, as expected, when we joined the Blue Earth family of companies."
According to Dr. Thomas, CEO/President of Blue Earth, "We expect the expanded business unit to generate over $20,000,000 in 2012 revenues with an EBITDA in excess of $3,000,000 based on scaling the existing CI business model. The net cost of the expansion during 2011 will only require a limited amount of cash from Blue Earth. Therefore, management does not anticipate a need to raise additional capital for this expansion or the manufacturing and marketing of the patented switch ballast lighting controls technology recently announced."
Blue Earth through its subsidiary CI, has created a business model for sustainably generating and delivering kW and kWh that benefits both the utility and the end user. CI provides energy efficiency services to small commercial businesses and delivers custom programs directly to utilities. The model is both expandable and scalable.
About BBLU
BBLU is engaged in the clean technology industry with a primary focus on the energy efficiency, water and wastewater sectors. We strive to participate in the global movement for a sustainable planet by offering products and services that will optimize energy use, reduce harmful environmental emissions and substantially reduce energy costs to our customers. For more information about Blue Earth, Inc., please visit www.blueearthinc.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements.
Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
CONTACT: Investor Relations Contact: Blue Earth, Inc. John C. Francis VP, Corporate Development & Investor Relations (702) 630-2345 jfrancis@blueearthinc.com Liviakis Financial Communications, Inc. Michael Bayes (415)-389-4670 Michael@Liviakis.com www.liviakis.com